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Legacy Gifts
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When considering a legacy gift or a significant current gift, it is important to consult with your personal advisors. Your attorney, accountant or estate planner can help you decide on the type and timing of a gift that will best meet your needs and fulfill your charitable intent. If you would prefer, we can provide access to professionals who can help you review charitable options.
If you would like additional information about how any of these giving vehicles can help you accomplish your financial, estate, and charitable planning goals, please call Kristen Huot at (218) 743-4116 or contact us by email.
Gifts through Your Will
You can't take it with you, but when you create a legacy gift, you can ensure that your desire to make a difference continues beyond your lifetime.
The will is one of the most popular ways to give and can be funded with virtually any asset: cash, stock, property, real estate or a gift of the residue and remainder of your estate after other bequests have been fulfilled. The process can be as simple as adding new language to your will (see below), and you'll have the satisfaction of knowing that you're providing for the future of our area with no impact on your present circumstances. You can specify the preferred use of your gift and direct it to a program, service, institution or group of people in need. Your gift then becomes a part of the Bigfork Valley Community Foundation at the time your will is probated, and your estate will qualify for a federal estate-tax charitable deduction.
Bequest language for Gifts to the Bigfork Valley Community Foundation
If you wish to make such a gift for the future, we would appreciate the opportunity to personally thank you and talk with you about the use of your legacy gift. The better we understand your philanthropic intent, the better we can fulfill your wishes. If you have already remembered us in your estate plans, please take a moment and let us know.
Gifts that Provide Income to Charity
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Charitable Lead Annuity Trust
Charitable Lead Unitrust
Gifts with Retained Life Estate Agreement
A life estate agreement is an arrangement whereby you transfer title to a personal residence, farm, or vacation home to charity while retaining the right to occupy and otherwise enjoy the full use of the property for your choice of a term of years or the lifetime of one or more individuals.
Retirement Plan Assets
You may have accumulated significant assets in a retirement plan such as a 401(K), 403(B), IRA or other qualified retirement program. Death benefits payable from retirement plan assets to your beneficiary may have tax consequences between 50 and 80 percent. Using retirement-plan assets to fund a gift can be a wise estate-planning strategy and provide a meaningful gift to the Bigfork Valley Community Foundation. It can make sense to name the Foundation as the beneficiary and bequeath other assets not burdened with this high level of tax to other beneficiaries. This strategy can allow some individuals to leave more to their family while giving more to charities they care about.
Life Insurance
Life insurance policies can be given in several different ways. Donors may designate the Foundation as beneficiary or owner of the policy. There are special tax advantages for the gifting of an existing policy, a paid-up policy or a newly purchased policy.
Give Now
Gifts to the Foundation can take many forms—from a variety of current gifts to legacy gifts that will be realized in the future. In all cases, you decide exactly how you would like your gifts to be used. All gifts can be given in honor or memory of an individual or family. When making a memory gift, please provide us with contact information so we can notify remaining family members or those being honored.
You can at our secure PayPal page where you can quickly and easily fill in the amount you would like to donate.
For special projects there is a drop down menu on our PayPal Donate page to select the project or giving area that you are interested in contributing towards.
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